Investors punished shares of Chinese companies traded in the U.S. on Friday as Didi Global Inc. searched for ways to back out of its New York stock listing months after the initial public offering drew Beijing’s ire.

The Chinese ride-hailing company’s decision to delist its American depositary shares from the New York Stock Exchange and pursue a listing in Hong Kong marked a new stage in the decoupling of Chinese companies from U.S. markets.



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